Domestic Resales of Unregistered Securities: Rule 144, Section 4(a)(1½), and Section 4(a)(7)

Get to know the main exemptions from registration for resales of control and restricted securities in the United States. Each of these three options has its own limitations that make them available to different types of sellers, transactions, and buyers, among other requirements. Read this practice note to get an understanding of which options may be best for your clients.

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Related Content

• Rule 144 Representation Letter (Provided by Affiliate Stockholders to Company Counsel)
  Help affiliates make all the representations needed to sell unregistered shares.

• Rule 144 Representation Letter (Provided by Non-Affiliate Stockholders to Company Counsel)
  Help non-affiliates sell shares in a private placement.

• Rule 144 Resale Opinion Letter
  Draft the letter indicating reviewed documents, relied-upon information, and your opinion on the sale.

• Broker's Representation Letter (Rule 144 Resale)
  Cover everything the broker needs to represent to make the sale go through.

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